Arab Investment Development Authority (AIDA) has committed an investment of $5.0 billion to develop 5.0 gigawatts (GW) of solar power plants in Bangladesh.
The project will be developed by AIDA in cooperation with UAE-based Almaden Emirates Fortune Power (AEFP) and Bangladesh-based Intraco Solar Power.
To this effect, an agreement was signed last week during UAE, Bangladesh summit in Abu Dhabi, according to a statement issued by the entities involved in the project recently.
UAE Minister of Economy Sultan Bin Saeed Al Mansouri and Bangladesh foreign minister AK Abdul Momen were present during the signing ceremony.
AIDA chairman Adil Al Otaiba said, "AIDA is coming on board to co-develop and invest with AEFP and ISL in making this project with the government of Bangladesh a reality.”
